Notes to Accounts of Healthy Life Agritec Ltd.

Mar 31, 2025

30 Contingent liabilities and capital commitments		(All amounts in f in lacs,	unless otherwise stated)
Particulars		For the year ended 31st March, 2025	For the year ended 31st March, 2024
(i)	Contingent liabilities	-	-
	Outstanding Bank Guarantees	-	-
(ii)	Claim received but not acknowledged by the company Estimated amount of contacts remaining to be excused on capital account and not provided
(iii) (iv)	for (net of advance) The company has commitments for services, purchase of goods and employee benefits, in normal course of business. The company does not have any long-term commitments / contracts including derivative contracts for which there will be any material foreseeable losses. The company has not been registered under PF Act, ESIC Act and Professional Tax Act. The impact of the same cannot be ascertained.

35 In opinion of the Board, the loans & advances and other current assets have a value, which if realized in the ordinary course of business, will not be less than the value stated in the Balance Sheet.

36 Balance appearing under loans & advances, trade receivables, trade payables, current assets and current liabilities are subject to confirmations in certain cases.

37 Additional regulatory information

(i) There are no proceedings that have been initiated or pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 (as amended from time to time) (earlier Benami Transactions (Prohibition) Act, 1988) and the rules made thereunder.

(ii) The Company has not been declared willful defaulter by any bank or financial institution or other lender.

(iii) There are no transactions / relationship with struck off companies.

(iv) The Company does not have any transaction not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income-tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income-taxAct, 1961). Further, there was no previously unrecorded income and no additional assets were required to be recorded in the books of account during the year.

(v) The Company has neither traded nor invested in Crypto currency or Virtual Currency during the year ended March 31, 2024. Further, the Company has also not received any deposits or advances from any person for the purpose of trading or investing in Crypto Currency or Virtual Currency.

(vi) Valuation of PP&E, intangible asset and investment property: The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or both during the current year.

(vii) The Company does not have any charges or satisfaction of charges which are yet to be registered with the Registrar of Companies beyond the statutory period.

(viii) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person or entity, including foreign entities (“’’Intermediaries””) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall, whether directly or indirectly lend or invest in other persons/ entities identified in any other manner whatsoever by or on behalf of the Company (‘ultimate beneficiaries’) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(ix) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (“’Funding party””) with the understanding (whether recorded in writing or otherwise) that the Company shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding party (ultimate beneficiaries); or provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

(x) The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017, and there are no companies beyond the specified layers.

38 Figures for the previous year have been regrouped/reclassified/reinstated, wherever considered necessary.

This is the summary of material accounting policies and other explanatory information referred to in our report of even date.

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Mar 31, 2024

K. Contingent liabilities and provisions

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence of one or more uncertain future events beyond the control of the company or a present obligation that is not recognised because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognised because it cannot be measured reliably.

A disclosure is made for a contingent liability when there is a:

i. Possible obligation, the existence of which will be confirmed by the occurrence /non- occurrence of one or more uncertain events, not fully with in the control of the company,

ii. Present obligation, where it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation.

iii. Present obligation, where a reliable estimate cannot be made.

A provision is recognised when the company has a present obligation as a result of past events, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are not disclosed to their present value and are determined based on best estimates required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and are adjusted to reflect the current best estimates.

L. Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year.

M. Cash, Cash Equivalents and Bank Balances

Cash, Cash Equivalents and Bank Balances for the purpose of Cash Flow Statement comprise Cash at Bank, Cash in Hand, Cheques / Drafts in Hand,

Deposits with Bank within 12 months maturity and other permissible instrument as per Accounting Standards AS-3.

N. Borrowings Cost:

Borrowings Cost attributable to the acquisition or construction of a qualifying asset is capitalized as part of the cost of the asset. Other borrowings costs are recognized as an expense in the period in which they are incurred.

O. Segment Information:

Based on the principles for determination of segments given in Accounting Standards 17 " Segment Reporting" issued by accounting standards notified by Companies (Accounting Standard) Rules, 2008, the Company is mainly engaged in the activity surrounded with main business of the Company hence there is no reportable segment.

P. Prior Period Expenditure:

The change in estimate due to error or omission in earlier period is treated as prior period items. The items in respect of which liability has arisen / crystallized in the current year, though pertaining to earlier year is not treated as prior period expenditure.

Q. Extra Ordinary Items:

The income or expenses that arise from event or transactions which are clearly distinct from the ordinary activities of the company and are not recuring in nature are treated as extra ordinary items. The extra ordinary items are disclosed in the statement of profit and loss as a part of net profit or loss for the period in a manner so as the impact of the same on current profit can be perceived.

R. Others

Amounts related to previous years, arisen / settled during the year have been debited/ credited to respective heads of accounts.

S. Taxation

a) Provision for Taxation for the year has been made in accordance with the Income Tax Act, 1961 taking into account, Minimum Alternative Tax (MAT) provisions in pursuance of the Income Tax Act 1961 which gives rise to future economic benefit in form of tax credits to be utilized in subsequent years.

b) Deferred Tax Asset or Liability at the end of each year is recognized on account of all timing differences in accordance with the mandatory Accounting Standard 22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India. The required adjustment is made in the statement of profit and loss accordingly.

c) Further, Deferred Tax Asset is recognized and carried forward only to the extent that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

T. Provisions

Provisions are recognised when the Company has a binding present obligation. This may be either legal because it derives from a contract, legislation, or other operation of law, or constructive because the Company created valid expectations on the part of third parties by accepting certain responsibilities. To record such an obligation, it must be probable that an outflow of resources will be required to settle the obligation and a reliable estimate can be made for the amount of the obligation. The amount recognised as a provision and the indicated time range of the outflow of economic benefits is the best estimate (most probable outcome) of the expenditure required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation, Noncurrent provisions are discounted if the impact is material.

U. Earnings per share

Basic earnings per share are computed by dividing the profit or loss after tax by the weighted average number of equity shares outstanding during the year. Diluted earnings per share are computed by dividing the profit / (loss) after tax as adjusted for dividend, interest, and other charges to expense or income (net of any attributable taxes) relating to the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving basic earnings per share.

1.3 Income in Foreign Currency: NIL

1.4 Expenditure in Foreign Currency: NIL

1.5 Related Party Transactions

1.6 Details of dues to micro and small enterprises as defined under the MSMED Act, 2006

The company does not have any Micro, Small, and Medium Enterprises, it has been confirmed by the company which has been relied upon by the auditors. According to such identification, outstanding/ unpaid amounts to Micro and Small Enterprises as per MSMED Act, 2006.

1.7 There is no contingent liability of the company at the end of the year.

1.8 As required by the Accounting Standard (AS-28) "Impairment of Assets" issued by the Chartered Accountants of India, the Company has assessed impairment of assets. There has been no impairment loss during the year.

1.9 Company recognize Deferred tax Assets (Net) as mentioned in Note No. 3.7 in financial statements.

1.10 Company has made payment of salary to employees and remuneration to the director as mentioned in the books of accounts.

1.11 No proceeding has been initiated or pending against the company for holding any Benami property under the Prohibition of Benami Property Transactions Act, 1988 (as amended) and rules made thereunder as of the end of the financial year.

1.13 The Company is not sanctioned any working capital limit secured against current assets by any bank or financial Institution.

1.14 The company have balances of Sundry Debtor, Creditor, Loans & Advances. However, such balances are subject to confirmation by the company. the management confirms that these balances are correct.

1.15 Loans and Advances are considered good in respect of which company does not hold any security other than the personal guarantee of persons.

1.16 The company was not declared as a wilful defaulter by any bank or financial institution or other lenders during the financial year.

1.17 No Provision for income tax has been made in the absence of any Income Tax Liability.

1.18 During the year, the company does not have any PPE therefore has not revalued its property, plant and equipment, and intangible assets.

1.19 The company has not received/advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) through Intermediaries during the financial year.

1.20 The Company does not have any transaction that was not recorded in the books of accounts and has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961

1.21 The Company has not traded or invested in Cryptocurrency or Virtual Currency during the financial year.

1.22 The Company does not have any transactions or Outstanding balances with Struck off Companies.

1.23 There are no charges or satisfaction yet to be registered with the Registrar of Companies

beyond the statutory period.

1.24 Ratios Analysis: Attached separately hereunder.

1.25 Company incorporation is on 07^th January 2022 So, Previous year figures are not available.

For NYS & Company For: - HEALTHY LIFE AGRETIC LIMITED

Chartered Accountants

ICAI F.R.No. 017007N

CA. Nitesh Agrawal Mohammed Sadiq Divya Mojjada

Partner Director Director

Membership No. 527125 DIN No: - 08606802 DIN No: - 07759911

Place: New Delhi

Date: 27/05/2024 Jyoti Kukreja Sandeep Ramkrit Gaud

Company Secretary Chief Financial Officer

M No.: A59758 PAN: BCHPG3290C

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Mar 31, 2023

(l) Contingent liabilities and provisions

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not recognised because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognised because it cannot be measured reliably.

A disclosure is made for a contingent liability when there is a:

a) possible obligation, the existence of which will be confirmed by the occurrence/non-occurrence of one or more uncertain events, not fully with in the control of the Company;

b) present obligation, where it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation;

c) present obligation, where a reliable estimate cannot be made.

A provision is recognised when the Company has a present obligation as a result of past events, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are not disclosed to their present value and are determined based on best estimates required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and are adjusted to reflect the current best estimates.

(m) Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year.

(n) Cash, Cash Equivalents and Bank Balances

Cash, Cash Equivalents and Bank Balances for the purpose of Cash Flow Statement comprise Cash at Bank, Cash in Hand, Cheques / Drafts in Hand, Deposits with Bank within 12 months maturity and other permissible instruments as per Accounting Standard AS-3.

(o) Borrowing Cost:

Borrowing Cost attributable to the acquisition or construction of a qualifying asset is capitalized as part of the cost of the asset. Other borrowing costs are recognized as an expense in the period in which they are incurred.

(p) Segment Information:

Based on the principles for determination of segments given in Accounting Standard 17 “Segment Reporting” issued by accounting standard notified by Companies (Accounting Standard) Rules, 2008, the Company is mainly engaged in the activity surrounded with main business of the Company hence there is no reportable segment.

(q) Prior Period Expenditure:

The change in estimate due to error or omission in earlier period is treated as prior period items. The items in respect of which liability has arisen/crystallized in the current year, though pertaining to earlier year is not treated as prior period expenditure.

(r) Extra Ordinary Items:

The income or expenses that arise from event or transactions which are clearly distinct from the ordinary activities of the Company and are not recurring in nature are treated as extra ordinary items. The extra ordinary items are disclosed in the statement of profit and loss as a part of net profit or loss for the period in a manner so as the impact of the same on current profit can be perceived.

(s) Others

Amounts related to previous years, arisen / settled during the year have been debited / credited to respective heads of accounts.

34 During the year, the Company has conducted physical verification of its property, plant and equipment in order to ensure their location, existence and assess their working condition. No discrepancies have been reported during such verification.

35 The Code on Social Security, 2020 (''Code'') relating to employee benefits during employment and postemployment received Presidential assent on 28th September 2020 and has been published in the Gazette of India. However, the date on which the provisions of the Code will come into effect has not been notified. Further, related Schemes and Rules are also awaited. The Company will evaluate the impact of the code after it has been notified.

36 The Company is engaged in the business of trading of live poultry and frest meat products and the same is exempt from Goods and Service Tax as per the Notification No 2/2017-Central Tax (Rate) dated 28/06/2017. However, exempted sales have not been disclosed under the applicable GST returns during the year.

37 The Company has not obtained Actuarial Valuation with regards to Employee’s terminal benefits i.e., Gratuity and Leave Encashment as mandated by AS-15 issued by the Institute of Chartered Accountants of India. In view of lesser number of employees on rolls, the Company has provided these benefits on actual basis.

38 In opinion of the Board, the loans & advances and other current assets have a value, which if realized in the ordinary course of business, will not be less than the value stated in the Balance Sheet.

39 Additional regulatory information

(1) There are no proceedings that have been initiated or pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 (as amended from time to time) (earlier Benami Transactions (Prohibition) Act, 1988) and the rules made thereunder.

(ii) The Company has not been declared wilful defaulter by any bank or financial institution or other lender.

(iii) There are no transactions / relationship with struck off companies.

(iv) The Company does not have any transaction not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income-tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income-tax Act, 1961). Further, there was no previously unrecorded income and no additional assets were required to be recorded in the books of account during the year.

(v) The Company has neither traded nor invested in Crypto currency or Virtual Currency during the year ended March 31, 2022. Further, the Company has also not received any deposits or advances from any person for the purpose of trading or investing in Crypto Currency or Virtual Currency.

(vi) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person or entity, including foreign entities ("Intermediaries") with the understanding (whether recorded in writing or otherwise) that the Intermediary shall, whether directly or indirectly lend or invest in other persons/entities identified in any other manner whatsoever by or on behalf of the Company (’ultimate beneficiaries’) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

40 Previous year amounts have been regrouped and/ or reclassified wherever necessary to confirm to those of the current year grouping and/or classification.

This is the summary of significant accounting policies and other explanatory information referred to in our report of even date.

For Kapish Jain & Associates For and on behalf of the Board of Directors of

Chartered Accountants Healthy Life Agritec Limited

Firm Registration No.: 022743N (Formerly known as Healthy Life Agritech Private Limited)

Kapish Jain Mohammed Sadiq Divya Mojjada

Partner Director Additional Director

Membership No.: 514162 DIN:08606802 DIN:07759911

Place: Mumbai Place: Mumbai

Place: New Delhi Date: 27.05.2023

Jyoti Kukreja Sandeep Ramkrit Gaud

Company Secretary Chief Financial Officer

MNo: A59758 PAN:BCHPG3290C

Place:New Delhi Place:New Delhi